The New Art of Central Banking

by M.L. Burstein

Book Overview

Central banking is being turned upside down by innovations such as securitization, complex options dealings and Euro-asset transactions that are denationalizing money and making it impossible for central banks to regulate costs of capital. Nor can central banks modulate business cycles in open economies; study of banking policy and business fluctuations suggests that the 'real' importance of bank-credit changes has long been exaggerated. The new art of central banking may culminate in masterly inactivity.

• Format: Paperback
• Language: English
• ISBN: 1349116289
• ISBN13: 9781349116287
• Release Date: January 1991
• Publisher: Palgrave MacMillan
• Length: 260 Pages
• Weight: 0.79 lbs.
• Dimensions: 0.6" x 5.5" x 8.5"